Posted 1/18/2024, 4:16:26 PM
Trump Opposes Fed Exploration of Digital Dollar, DeSantis Bans Them in Florida
- Trump vows to block any Fed effort to launch a central bank digital currency if elected president
- Fed conducting research on feasibility of a digital dollar but has not decided whether to create one
- Prospect of a digital dollar becoming politically toxic, with Gov. Ron DeSantis preemptively banning them in Florida
- Fed considering design where digital currency would be held in digital wallets at banks, not directly by public
- Fed says need to balance privacy rights with transparency to deter criminal activity in any digital currency system